Barney the Owl Helps You Save Big
Thousands of credit cards are hacked each year, and only the most diligent consumers catch them before damage is done. By staying on top of statements, and monitoring your account online you can avoid hundreds to thousands of dollars in fraudulent charges.
In a recent post to The Compare Site Blog, Steven Mackenson from Glendale, CA wrote, “I received a bill yesterday from my credit card provider before receiving or activating my credit card. should I be concerned?” The answer is yes. You should be concerned if you receive a credit card bill before ever spending a dollar with the card.
If this happens to you, contact your credit card company immediately. Let them know that you have yet to receive your credit card or activate it, and that any charges to the account have been fraudulent.
In a normal situation, Steven would have received a welcome letter in the mail with the card, terms, details, and instructions inside. If you have yet to receive this letter, and the first communication between you and the credit card issuer is a bill, it is very likely that someone else retrieved your card, activated it, and has put it to use. There is a possibility that the credit card company made a mistake, and issued you the wrong statement. Regardless, it is important to be in contact with your credit card provider the moment an issue occurs.
Once on the phone with the credit card company, ask for the date, time, and location of the charges. Explain to the representative that you did not make these charges, and have yet to receive your card. They will transfer you to someone in their fraud department who will review the issue, and do their best to resolve the issue. In most cases they will open up a claim, and assign you a claim number. You will be able to track these claims online. Your account will be credited for the funds when the claim has been accepted. Depending on the bank or credit card issuer this can take up to 21 days.
According to the Fair Credit Billing Act cardholders are not held responsible for any unauthorized charges if the crime is reported within 60 days after the statement was mailed. Which is another reason why contacting your credit card company immediately is vital.
To find out what other measures you can take against credit card theft read the full article on The Compare Site now.